A federal judge granted preliminary approval to an $8.05 million settlement between Aurora Cannabis Inc. (NASDAQ: ACB) and investors who accused the company of misleading them through an boomerang deal to inflate its revenue, Law360 reported. U.S. Magistrate Judge James B. Clark III gave the initial nod to the proposed …
Bright Minds stock jumps over 3,000% in five days
Psychedelic drug company Bright Minds Biosciences Inc. (NASDAQ: DRUG) saw its stock rocket higher by 1,445% to close the day on Tuesday at $38.49 as the stock rose $36 per share. The stock had opened at $2.67 per share and has mostly traded in the range of $1-$2 over the …
Tsunami of debt heading toward the biggest cannabis companies
There is a tsunami of debt headed straight for the cannabis industry. When capital dried up a few years ago, many publicly traded cannabis companies turned to debt for needed funding. Now, roughly $1.83 billion of that debt is set to come due by 2026. Facing the wave There’s no …
The Daily Hit: October 15, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, October 15, 2024. On the Site BevCanna changes name as it says goodbye to cannabis The new company will focus on nutraceuticals after its recent acquisition. Read more here. Leafly at risk of Nasdaq delisting, plans …